Business
Jewett-Cameron Reports Fiscal 2024 Full Year and Fourth Quarter Operational and Financial Results
NORTH PLAINS, Ore., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Jewett-Cameron Trading Company Ltd. (Nasdaq: JCTC), a company committed to innovative products that
About this update from Jewett-cameron Trading Company
[{"type":"text","content":"NORTH PLAINS, Ore., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Jewett-Cameron Trading Company Ltd. (Nasdaq: JCTC), a company committed to innovative products that enrich outdoor spaces, today announced operational and financial results for the fiscal 2024 full year and fourth quarter for the period ended August 31, 2024. Recent Financial Operational Highlights Experienced year-over-year growth in Q4 2024 in several product categories within its pet, fence and other segment as well as its industrial wood products segment. This growth was offset by the termination of the Company’s seed cleaning operations and a decrease in the Company’s lower margin wood fence business. Overall, Q4 2024 revenue was $13.2 million compared to $14.6 million in Q4 2023.Created and launched a scalable process for Lifetime Steel Post® (LTP) displayers and refresh of Adjust-A-Gate® merchandisers for Home Depot and Lowes. First initiated in May 2024 in one region, the LTP displayers quickly expanded into over 100 stores in multiple regions by the end of August with more regions scheduled to be set up in fiscal year 2025. With the Company’s increased emphasis on appropriate product placement, it expects this growth will continue to increase throughout the year and likely provide greater contribution to future growth.Partnered with Continental Sales & Marketing, Inc., a nationally recognized logistics and supply chain services company, to expand distribution with key national and regional home improvement retailers across its various product lines with a particular focus on the metal and composite Jewett-Cameron fence products.Completed a significant step forward in its strategic plan to expand and diversify the Company’s supply sourcing adding three new supply partners. With the implementation of the new multi-source, multi-country, strategic sourcing plan, the Company is less dependent on one specific supply source for any single product or component and believes it will mitigate the burden of tariffs placed on various steel products coming into the U.S. from China and other countries.Extensive internal development of new products and product line extensions planned for the next twelve months, including a new and improved Lucky Dog® Chain Link Kennel, a new low-profile, no-sag Adjust-A-Gate® Unlimited gate kit, and enhancements to the Company’s Lifetime Steel Post...